Page 2 - Closed End Second News Today : Breaking News, Live Updates & Top Stories | Vimarsana

"You have to be nimble and you need to have good products," officials says

If you want something sobering, almost mesmerizing, here’s a short drone video of the flood damage in Libya (at the 15 second mark you can see how it tore through the city). Fortunately not so sobering are some stats out of the United States. The U.S. homeownership rate in 2022 was even higher than before the COVID-19 pandemic at 65.8 percent compared to 64.6 percent in 2019. That rebound was driven largely by those aged 44 and younger. And who says Millennials aren't buying homes? Homeownership continued to climb from the foreclosure crisis (2004) and Great Recession (2008), wh...

Time flies, and we’re more than halfway through the 3rd quarter. Few lenders and vendors look forward to heading into the autumn or winter of any year, and with the U.S. 10-year up to 4.30 percent, millions of borrowers content with low rates thanks to us, and with four consecutive negative prints in MBA mortgage applications, the demand for mortgages is now roughly 9 percent lower compared to the last positive print on July 14th. With mortgage rates hovering around 7.5 percent, we can all expect rate sensitive borrowers to continue to sit out. Lenders everywhere are grinding away at lo...

Hey, I’ve got news for you: 2023 is half over. Sometimes reality bites, and vendors and lenders can’t sit there, wringing their hands, waiting for things to get better on their own. Are lenders suddenly going to make huge margins on lots of volume in the second half? Are LOs who were doing 2-3 loans a month in the first half suddenly going to do 4-6? Are vendor reps suddenly going to double their clients? Are rates going to plummet? Is the number of houses for sale going to skyrocket? Banks, credit unions, and depositories are certainly doing something. An analysis of call report...

Born in Ukraine, Golda Meir said, “Old age is like a plane flying through a storm. Once you are aboard there is nothing you can do about it." (Doubtful anyone called her Goldy.) Her time as the Prime Minister of Israel ended in 1974, and since that time oldsters in our biz have seen the yield curve invert ten times, give or take. Bond traders are no longer fully convinced that the Federal Reserve will do one more quarter-point interest-rate hike, given the nervousness about First Republic and fear of an economic downturn; recessions have tended to lag yield curve inversions by ...